Therefore, for the G20 to successfully and sustainably realize its objective, it is important that they not only help accelerate the value creation and commercialization of critical minerals in African LIRR countries, but also help them develop the financial self-reliance needed to participate in the global economy for years to come. [...] Given the prominent role of critical minerals in the global political economy, it is natural to ask a question central to this policy brief: How can the G20 help refine the international financial architecture to help LIRR African economies translate the renewed global interest in strategic minerals into fiscal space, industrialization, and financial self-reliance? FIGURE 2. [...] Possible outcomes of recommendation #1 With regard to the adoption of the afore-mentioned recommendations, one immediate challenge is the shortage of the required knowledge and skill-set among African LIRR countries. [...] Moreover, with the G20 support and partnership, home-grown initiatives like the AfCFTA and the Africa Exchange Linkage Project (AELP) will ensure African financial systems are destined to become well-integrated, deep, inclusive, and fit for the service of the green economy. [...] Conclusion This paper has reviewed the key challenges the international financial architecture poses for African LIRR countries, the opportunity presented by the renewal of global interest in minerals, and the role the G20 can play in converting this interest into measurable development outcomes like industrialization, and financial self-resilience.
Authors
- Pages
- 17
- Published in
- Nigeria
Table of Contents
- Abstract 2
- Diagnosis of the issue 3
- Introduction Challenges and Opportunities 3
- Source 4
- Note 4
- A natural partner in the G20 5
- Source Google Trends 6
- Recommended G20 interventions 7
- Accelerate deployment of the Common Framework to expand African LIRR 7
- The G20 can help unlock private capital at scale by helping LIRR economies expand 8
- The G20 can support African economies to develop their internal solutions for self- 9
- Source 10
- Scenario analysis of interventions 12
- Possible outcomes of recommendation 1 12
- Possible outcomes of recommendation 2 12
- Possible outcomes of recommendation 3 13
- Conclusion 14
- References 15
- African Development Bank 15
- The International Monetary Fund 15
- International Monetary Fund and the Group 15
- Geological Survey Department Ministry of Mines and Mineral Development 15
- Center for Global Development 15
- The World Bank Research 15
- Observer 15
- The 15
- World Bank Group. 15
- Springer 16
- Legal Regulatory Bulletin 16
- The World Bank 16
